Oil prices fell on October 6 as resilient Middle Eastern exports and a G7 stockpile release eased supply concerns. Brent crude futures lost 4 cents to $100.28 a barrel. Meanwhile, gold steadied amid a stronger dollar and uncertainty over interest rates. Silver climbed 1.2% to reach $61.08 an ounce today.
Commodity markets traded mixed on October 6, with oil prices falling as resilient Middle Eastern exports and a G7 stockpile release eased supply concerns, while gold steadied amid a stronger dollar and uncertainty over the interest-rate outlook. Oil prices down on Tuesday as resilient Middle Eastern crude exports and a G7 emergency stockpile release eased supply concerns, though attacks by Yemen's Houthis on Saudi targets kept traders wary of risks to Gulf supplies. Brent crude futures lost 4 cents to $100.28 a barrel, while US West Texas Intermediate crude futures fell 11 cents, or 0.1%, to $89.33 a barrel. Gold steadied after paring earlier gains, pressured by a stronger dollar as European political uncertainty boosted the greenback's appeal and traders weighed the outlook for interest rates. Spot bullion traded near $4,140 an ounce as policy gridlock in France sparked a selloff in the region's more vulnerable debt. Among other precious metals, silver climbed 1.2% to $61.08 an ounce while platinum and palladium advanced. The dollar index, a gauge of the US currency, edged 0.1% higher, after climbing as much as 0.4% earlier in the session.